Hello, everyone!
⚡️ It's time to take a look at the SOL idea and see how it's doing. Let me remind you that I started building my position at prices of $141 and below.
The first thing we see is that on July 8, the price broke through the six-month sloping resistance and broke the long-term downtrend.
Then, the gap at $172.72 - $163.62 was almost completely closed. It was this gap that attracted the price as the nearest source, and after its closure, this is the first moment when a reversal can be expected.
⚙️ Metrics and indicators:
Volume - purchase volumes remain flat. This signals a lack of interest in the token at this stage. This means that it is not yet close to being overpriced.
Money Flow - in harmony with the price. Liquidity inflows have been continuing for over a month, since the end of the correction.
Support/Resistance - the price has now consolidated above strong local support at $159 and is attempting to break through the next level at $167.99.
After that, there will be another significantly smaller level at $179 and a fairly untraded space, which could trigger parabolic growth.
📌 Conclusion:
So far, SOL is moving completely in line with our expectations from previous ideas. And the lack of high purchase volumes signals that the token is not even close to its euphoria, being so far from its ATH.
And now, when Bitcoin stops growing, liquidity will begin to flow into altcoins, which is already happening gradually. And SOL, for which a decision on the ETF should be made soon. It looks very promising!
Have a nice day, everyone! 🔥
⚡️ It's time to take a look at the SOL idea and see how it's doing. Let me remind you that I started building my position at prices of $141 and below.
The first thing we see is that on July 8, the price broke through the six-month sloping resistance and broke the long-term downtrend.
Then, the gap at $172.72 - $163.62 was almost completely closed. It was this gap that attracted the price as the nearest source, and after its closure, this is the first moment when a reversal can be expected.
⚙️ Metrics and indicators:
Volume - purchase volumes remain flat. This signals a lack of interest in the token at this stage. This means that it is not yet close to being overpriced.
Money Flow - in harmony with the price. Liquidity inflows have been continuing for over a month, since the end of the correction.
Support/Resistance - the price has now consolidated above strong local support at $159 and is attempting to break through the next level at $167.99.
After that, there will be another significantly smaller level at $179 and a fairly untraded space, which could trigger parabolic growth.
📌 Conclusion:
So far, SOL is moving completely in line with our expectations from previous ideas. And the lack of high purchase volumes signals that the token is not even close to its euphoria, being so far from its ATH.
And now, when Bitcoin stops growing, liquidity will begin to flow into altcoins, which is already happening gradually. And SOL, for which a decision on the ETF should be made soon. It looks very promising!
Have a nice day, everyone! 🔥
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.